Current projections for growth in electric vehicle (EV) production will have a “major” effect on demand for copper, cobalt and nickel, Glencore ceo Ivan Glasenberg said.

But the supply of these materials may not be feasible at the
rates required, he told analysts while reporting the company's
half-year results on Thursday August 10. The target set by
governments in the Electric Vehicle Initiative, a non-binding
clean energy campaign that started in June 2017 and is
supported by China, France, India and Japan among others, is
for 30% of all cars produced by 2030 to be EVs by 2030. This
equates to more than 26 million vehicles, based on Jato
Dynamics figures of 87 million cars sold in 2016. This level of
growth would necessitate more than a doubling of global cobalt
production by 2030 as well as increases of 57%...

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